Tokyo apartment sales in August 2018

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of August 2018:

Building

Sold Price
(Yen/sqm)

(USD/sq.ft)

Days Listed

Discount

Park Court Akasaka Hinokicho The Tower (2018)
3-Bedroom

¥3,498,000
/sqm

$2,930
/sq ft

73

4.9%

A luxury high-rise apartment building adjoining Tokyo Midtown. When off-the-plan apartment sales began in late 2015, there were an average of 1.9 buyers per apartment. The building was designed by Kengo Kuma and features concierge, gym, roof deck, and various resident lounges and function rooms. This was a larger three-bedroom apartment on a mid-floor. It had views towards Tokyo Midtown. There are currently 13 sale listings in the 322-unit building with an average asking price of 3,545,000 Yen/sqm. The average resale price to date in 2018 is around 3,420,000 Yen/sqm.

The Parkhouse Gran Minami Aoyama (2016)
2-Bedroom

¥2,769,000
/sqm

$2,320
/sq ft

79

4.8%

A luxury low-rise apartment building in the heart of Omotesando. Off-the-plan sales began in June 2015 and all apartments sold out on the first day of sales, with an average of 9.6 buyers per apartment. The average price when new was around 2,300,000 Yen/sqm. This apartment sold for approximately 18% more than it previously traded for in 2017. This has been the highest reported resale in this building on a price-per-square-meter basis to date. There are currently 6 sale listings in the 101-unit building with an average asking price of 3,490,000 Yen/sqm. 5 of the 6 listings are leased to tenants and suitable for investors only, with an average gross rental yield of 2.8%.

The Westminster Roppongi (2003)
3-Bedroom

¥2,323,000
/sqm

$1,945
/sq ft

138

5.4%

A 99-unit building located adjacent to the Roppongi Hills complex. The former rental building was renovated and apartments were sold off individually a few years ago. The current average asking price in this building is around 2,535,000 Yen/sqm, up 6% from the asking price 12 months ago. This apartment was a spacious corner unit on a low floor. There have only been 3 reported resales in this building, with this one being the most expensive on a price-per-square-meter basis.

Century Forest Daikanyama (2011)
2-Bedroom

¥2,150,000
/sqm

$1,800
/sq ft

81

0%

A high-end, low-rise complex located between Daikanyama and Shibuya Stations. When new, the average sale price was around 1,370,000 Yen/sqm. There is currently just 1 sale listing in the 244-unit building with an asking price of 2,254,000 Yen/sqm. It is currently under offer. This has been the only reported resale to date in 2018, and has been the most expensive reported resale in this building on a price-per-square-meter basis to date. The average resale price in 2017 was 1,855,000 Yen/sqm, up 10.4% from 2016.

Brillia Towers Meguro (2017)
2-Bedroom

¥2,143,000
/sqm

$1,795
/sq ft

12

1.1%

Brillia Towers Meguro is a multi-tower high-rise office and residential complex located on the eastern side of Meguro Station. When new, apartments on floors 30 and above had an average price of 2,435,000 Yen/sqm, while lower floors were priced around 1,700,000 ~ 2,010,000 Yen/sqm. Sales were held via a lottery system, with some of the popular apartments receiving as many as 40 purchase applications. The building was completed in December 2017. As of August 2018 there were 21 apartments listed for resale, down from 41 apartments at the end of April. The average asking price was 2,158,000 Yen/sqm. Apartments over 80 sqm in size had an average asking price of 2,550,000 Yen/sqm. The average size of an apartment listed for sale was 63 sqm (678 sq.ft). There have been 20 reported resales to date in 2018, with 5 of those occurring in August. The average sale price has been around 1,940,000 Yen/sqm.

The Roppongi Tokyo (2011)
1-Bedroom

¥2,062,000
/sqm

$1,725
/sq ft

113

1.0%

A 39-storey high rise in the Roppongi neighbourhood with concierge, gym, guest suite and resident lounge. Current asking prices in this building range from 2,010,000 ~ 2,575,000 Yen/sqm, with an average price of around 2,280,000 Yen/sqm. There are currently 22 sale listings. The average resale price to date in 2018 is around 2,080,000 Yen/sqm, up 6.1% from 2017 (1,960,000 Yen/sqm) but down 0.95% from 2016 (2,100,000 Yen/sqm). This was a small apartment on a mid floor. It was rented to a tenant and sold with a gross yield of around 3.5%. This apartment sold for approximately 0.8% less than a similar one traded for in mid-2015.

Grand Suite Azabudai Hilltop Tower (2014)
2-Bedroom

¥1,653,000
/sqm

$1,385
/sq ft

120

8.4%

A 29-storey high-rise located near the Russian Embassy and Tokyo American Club. When pre-sales began in 2013, apartments had an average price of around 1,360,000 Yen/sqm. There have been just 7 reported resales in the 166-unit building over the past 5 years. This was a south-facing apartment on a mid-floor. It was leased to a tenant with a gross yield of around 3.6%.

Shibuya Eins (2001)
2-Bedroom

¥1,488,000
/sqm

$1,245
/sq ft

238

7.6%

Shibuya Eins is an 18-storey building located a 4 minute walk from Shibuya Station. Only 4 of the 164 units in the building were listed for sale as at the end of August 2018, with an average asking price of 1,680,000 Yen/sqm. This was a larger apartment on a high floor. It sold for approximately 48% more than an identical apartment a few floors down sold for in 2012.

The Parkhouse Harumi Towers Tiaro Residence (2016)
2-Bedroom

¥1,060,000
/sqm

$890
/sq ft

27

0.2%

Part of a two-tower complex including the Krono Residence (2013) and Tiaro Residence (2016).There were 26 apartments listed for sale as at the end of August, up from 24 listings in May, with an average asking price of 1,100,000 Yen/sqm. The average resale price to date in 2018 is around 983,000 Yen/sqm, up 1.3% from 2017 (970,000 Yen/sqm) but down 1.7% from 2016 (1,000,000 Yen/sqm). There were 6 reported resales in the first half of 2018, down from 13 transactions seen in the first half of 2017. This apartment sold for 0.5% more than an identical apartment a few floors up sold for in early 2017.

Parkside Roppongi (1979)
3-Bedroom

¥987,000
/sqm

$825
/sq ft

47

2.6%

An older building located a 3 minute walk from Roppongi Station. This apartment sold for approximately 58% more than it previously traded for in 2010. It has been the third most expensive reported resale in this building to date on a price-per-square-meter basis.

The Parkhouse Harumi Towers Krono Residence (2013)
3-Bedroom

¥980,000
/sqm

$820
/sq ft

90

2.2%

Part of a two-tower complex including the neighboring Tiaro Residence (2016). Together, the two towers contain 1,744 apartments. When new, apartments in Krono Residence were priced at around 770,000 Yen/sqm by the developer. There were 28 apartments listed for sale in this building as of August 2018, down from 30 listings in April. The average asking price was 1,135,000 Yen/sqm. The average resale price to date in 2018 is around 1,010,000 Yen/sqm, up 1.8% from 2017 (992,000 Yen/sqm) and up 2.1% from 2016 (989,000 Yen/sqm). This apartment sold for the same price as an identical apartment upstairs sold for in late 2014.

About the data:

The data is based on information supplied to REINS by agents.

This information is voluntarily provided, and not all transactions are recorded.

The discount, for example, is based on the last advertised listing price at the time of sale, rather than the original list price.

Some listings are constantly updated, so the days listed between listing on REINS and final sale may not be accurate. The days listed are also based on the day that the agent registered the property as being sold, which is sometimes done on the day of the contract signing, settlement or even later if the agent forgets to update the listing.

Not every sale is reported above.

Price per square meter or per square foot is calculated based on apartment’s internal floor area and does not include balconies, car parks or common areas.

Exchange rate is at the time of publishing the article and is subject to change (1 USD: 111.04 Yen).